TRD1.DE vs. VGTY.DE
TRD1.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist) and VGTY.DE (Vanguard USD Treasury Bond UCITS ETF Distributing) are both Government Bonds funds - TRD1.DE tracks the Bloomberg US Treasury Coupons Index while VGTY.DE tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 5 years, TRD1.DE returned 4.03%/yr vs 0.19%/yr for VGTY.DE. A 0.66 correlation means they provide meaningful diversification when combined. TRD1.DE charges 0.06%/yr vs 0.05%/yr for VGTY.DE.
Performance
TRD1.DE vs. VGTY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRD1.DE achieves a 4.56% return, which is significantly higher than VGTY.DE's 2.87% return.
TRD1.DE
- 1D
- 0.20%
- 1M
- 2.07%
- 6M
- 4.34%
- YTD
- 4.56%
- 1Y
- 6.79%
- 3Y*
- 2.97%
- 5Y*
- 4.03%
- 10Y*
- —
VGTY.DE
- 1D
- -0.05%
- 1M
- 1.91%
- 6M
- 2.81%
- YTD
- 2.87%
- 1Y
- 6.01%
- 3Y*
- 1.47%
- 5Y*
- 0.19%
- 10Y*
- —
TRD1.DE vs. VGTY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 4.56% | -7.35% | 11.23% | 1.38% | 6.73% | 8.36% | -17.72% |
VGTY.DE Vanguard USD Treasury Bond UCITS ETF Distributing | 2.87% | -5.53% | 6.49% | 0.32% | -6.92% | 5.85% | -3.37% |
Correlation
The correlation between TRD1.DE and VGTY.DE is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.66 |
The correlation between TRD1.DE and VGTY.DE has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.
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Return for Risk
TRD1.DE vs. VGTY.DE — Risk / Return Rank
TRD1.DE
VGTY.DE
TRD1.DE vs. VGTY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE) and Vanguard USD Treasury Bond UCITS ETF Distributing (VGTY.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TRD1.DE | VGTY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 1.50 | +0.32 |
| Martin ratioReturn relative to average drawdown | 4.77 | 3.90 | +0.88 |
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Drawdowns
TRD1.DE vs. VGTY.DE - Drawdown Comparison
The maximum TRD1.DE drawdown since its inception was -17.81%, roughly equal to the maximum VGTY.DE drawdown of -17.51%. Use the drawdown chart below to compare losses from any high point for TRD1.DE and VGTY.DE.
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Drawdown Indicators
| TRD1.DE | VGTY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.81% | -17.51% | -0.30% |
Max Drawdown (1Y)Largest decline over 1 year | -3.70% | -3.98% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -11.60% | -11.05% | -0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -11.70% | -12.99% | +1.29% |
Current DrawdownCurrent decline from peak | -5.44% | -11.40% | +5.96% |
Average DrawdownAverage peak-to-trough decline | -8.30% | -9.06% | +0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.54% | -0.12% |
Volatility
TRD1.DE vs. VGTY.DE - Volatility Comparison
Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE) has a higher volatility of 1.79% compared to Vanguard USD Treasury Bond UCITS ETF Distributing (VGTY.DE) at 1.57%. This indicates that TRD1.DE's price experiences larger fluctuations and is considered to be riskier than VGTY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRD1.DE | VGTY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 1.57% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 3.81% | +0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.32% | 5.47% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.48% | 7.99% | -0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.11% | 7.66% | +0.45% |
TRD1.DE vs. VGTY.DE - Expense Ratio Comparison
TRD1.DE has a 0.06% expense ratio, which is higher than VGTY.DE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TRD1.DE vs. VGTY.DE - Dividend Comparison
TRD1.DE's dividend yield for the trailing twelve months is around 3.86%, less than VGTY.DE's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 3.86% | 4.35% | 4.82% | 4.70% | 1.55% | 0.10% | 0.74% | 0.00% | 0.00% | 0.00% |
VGTY.DE Vanguard USD Treasury Bond UCITS ETF Distributing | 4.19% | 4.49% | 3.94% | 3.47% | 2.14% | 1.17% | 1.67% | 2.35% | 2.28% | 0.30% |
Frequently Asked Questions
TRD1.DE and VGTY.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGTY.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGTY.DE is cheaper with a 0.05% expense ratio, compared with 0.06% for TRD1.DE.
TRD1.DE tracks Bloomberg US Treasury Coupons Index, while VGTY.DE tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.06% for TRD1.DE and 0.05% for VGTY.DE.
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